VANCOUVER, British Columbia, May 9 /PRNewswire-FirstCall/ -- GPS Industries, Inc. (GPSI) (BULLETIN BOARD: GPSN) , the only provider of Wi-Fi powered, advertising enhanced GPS systems for golf facilities, resorts and residential communities, announces that it has signed a Master Supply Agreement ("MSA") for sales in China with GPSi Asia, our exclusive Asian distributor.
As a result of continued emergence of the China market, GPSI and GPSi Asia have agreed to terms whereby GPSi Asia will purchase 15 or more systems or up to 1,750 Inforemer HD Mobile Display Units ("MDU"). In accordance with the MSA, GPSi Asia has advanced an initial deposit to GPSI to initiate production of the first 5 systems and to obtain preferred pricing.
The MSA projects that GPSi Asia will have submitted purchase orders valued at up to $3.5 million to fulfill the quantities contained in the MSA by the end of this year.
"GPSI is very excited about this opportunity to expand our customer base and the use of the Inforemer product in China. Through our International Distribution Agreement signed in May of 2006, we believe GPSI Asia has proven their ability to compete in this market and we look forward to working with them well into the future," stated Bart Collins, member of GPSI's Board of Directors.
GPSI is a minority shareholder in GPSi Asia whereby GPSI owns 17.5% of the common stock of GPSi Asia.
ABOUT GPS INDUSTRIES, INC.
GPS Industries, Inc. (GPSI) develops and markets GPS and Wi-Fi multimedia solutions to enable managers of golf facilities, resorts, and residential communities to improve operational efficiencies and generate new revenue streams. The Company's Inforemer(R) Management Solutions product line provides integrated software applications and high-resolution cart mounted display panels that vividly illustrate each hole, providing precise distance measurement information, strategic playing tips and targeted advertising messages to the golfer while enabling the course with state-of-the-art management capabilities such as cart tracking, food and beverage service, and tournament sponsorships. The patented system is seamlessly connected via a high-speed Wi-Fi network that enables the entire facility into a wireless hot spot. With the acquisition of UpLink in January 2008, GPSI now also offers the Inova Management Solution product line with the exclusive patented IQLink car control and monitoring capabilities. As a result of the UpLink acquisition, GPSI now has an installed base of over 320 active course installations worldwide. For additional information, please visit http://www.gpsindustries.com/.
Forward-Looking Statements
Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.
GPS Industries, Inc.
